Digital Lenders in Kenya

Digital Lenders Licenced To Operate In Kenya – The Central Bank of Kenya (CBK) has granted approval to an additional 19 digital credit companies, bringing the total licensed providers in the country to 51. This expansion follows a thorough review of 480 applications received since March 2022 by CBK and other regulators, including the Office of the Data Protection Commissioner. CBK Highlighted In a statement released on Wednesday, CBK highlighted the focus of their engagements, addressing business models, consumer protection, and the suitability of proposed shareholders, directors, and management. The accreditation process is part of regulations introduced in the previous year to eliminate rogue players in the rapidly growing industry and regulate the use of consumer data by lenders. Various applicants are at different stages in the accreditation process, with many awaiting the submission of required documentation. The move comes in response to concerns such as some companies contacting the family and friends of customers who defaulted on payments or failed to pay on time. Fraud Concerns Additionally, complaints about certain lenders imposing high-interest rates against the provisions of the Digital Credit Providers Regulations of 2022 prompted the regulatory measures. In December, CBK Governor Kamau Thugge informed parliament about an ongoing probe into over 400 digital credit companies over fraud concerns. Here is the comprehensive list of accredited digital lenders in Kenya Anjoy CreditAsante FS East AfricaAutochekAzura CreditCeres TechChapeo CapitalChime CapitalColkos EnterprisesCreditarea CapitalDecimal CapitalDexintec KenyaEDOMXExtend Money ServicesFactorhouseFezotech KenyaFortune CreditFourth Generation CapitalGetcash CapitalGiando AfricaInventure MobileJijenge CreditJumo KenyaKweli Smart SolutionsLetshego KenyaLipa LaterLittle PesaLobelitec CreditMaralal LedgerMarble Capital SolutionsMKM CapitalMFS TechnologiesM-KopaMwanzo CreditMycreditMyWagepayNatal TechNgao CreditOkolea InternationalPezesha AfricaPi CapitalRewot CiroRisine CreditSenti CapitalSevi InnovationSokohelaTenakata EnterprisesUbaPesaUmoja FanisiZanifuZenkaZillions CreditThis move represents a significant step in enhancing the regulatory framework and ensuring responsible practices within Kenya’s digital credit sector. Contact Us: Website:  – Click HereWhatsApp | Call: +254 743 149 267 | + 254 738 352 258Email Address:  in**@be***********.com | sa***@be***********.com Follow our IG: @TrendBlendHubKe